ONE Gas (NYSE:OGS) Given New $71.00 Price Target at Wells Fargo & Company

ONE Gas (NYSE:OGS) had its price objective boosted by Wells Fargo & Company from $68.00 to $71.00 in a research note released on Wednesday morning, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the utilities provider’s stock.

OGS has been the topic of several other reports. UBS Group began coverage on shares of ONE Gas in a research report on Friday, April 12th. They set a sell rating and a $61.00 price objective on the stock. Morgan Stanley decreased their price objective on shares of ONE Gas from $61.00 to $58.00 and set an equal weight rating on the stock in a research report on Monday, June 24th. StockNews.com cut shares of ONE Gas from a hold rating to a sell rating in a research note on Saturday, July 20th. Finally, Mizuho raised their target price on shares of ONE Gas from $64.00 to $65.00 and gave the company a neutral rating in a research note on Wednesday, June 5th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of Hold and an average price target of $65.69.

ONE Gas Stock Performance

OGS traded up $0.39 during trading on Wednesday, hitting $67.70. The company’s stock had a trading volume of 272,260 shares, compared to its average volume of 434,874. The firm has a market cap of $3.83 billion, a PE ratio of 16.72, a P/E/G ratio of 3.62 and a beta of 0.66. ONE Gas has a one year low of $55.50 and a one year high of $77.04. The business’s 50 day simple moving average is $64.64 and its 200-day simple moving average is $63.06. The company has a quick ratio of 0.39, a current ratio of 0.47 and a debt-to-equity ratio of 0.76.

ONE Gas (NYSE:OGS) last announced its quarterly earnings data on Monday, August 5th. The utilities provider reported $0.48 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.01). The firm had revenue of $354.14 million for the quarter, compared to the consensus estimate of $362.06 million. ONE Gas had a net margin of 10.86% and a return on equity of 8.37%. The firm’s revenue for the quarter was down 11.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.58 earnings per share. As a group, sell-side analysts predict that ONE Gas will post 3.85 EPS for the current fiscal year.

ONE Gas Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Wednesday, August 14th will be paid a $0.66 dividend. The ex-dividend date is Wednesday, August 14th. This represents a $2.64 dividend on an annualized basis and a dividend yield of 3.90%. ONE Gas’s payout ratio is currently 65.19%.

Hedge Funds Weigh In On ONE Gas

A number of institutional investors and hedge funds have recently made changes to their positions in OGS. Raymond James & Associates grew its stake in shares of ONE Gas by 37.6% in the 4th quarter. Raymond James & Associates now owns 17,284 shares of the utilities provider’s stock worth $1,101,000 after buying an additional 4,721 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its stake in shares of ONE Gas by 4.9% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 16,280 shares of the utilities provider’s stock worth $1,037,000 after buying an additional 767 shares in the last quarter. International Assets Investment Management LLC purchased a new position in shares of ONE Gas in the 4th quarter worth $8,825,000. DekaBank Deutsche Girozentrale boosted its stake in shares of ONE Gas by 152.3% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 6,917 shares of the utilities provider’s stock worth $443,000 after purchasing an additional 4,175 shares during the period. Finally, Miller Howard Investments Inc. NY boosted its stake in shares of ONE Gas by 73.3% during the 4th quarter. Miller Howard Investments Inc. NY now owns 17,858 shares of the utilities provider’s stock worth $1,138,000 after purchasing an additional 7,555 shares during the period. 88.71% of the stock is owned by hedge funds and other institutional investors.

About ONE Gas

ONE Gas, Inc, together with its subsidiaries, operates as a regulated natural gas distribution company in the United States. The company provides natural gas distribution services to approximately 2.3 million customers in Oklahoma, Kansas, and Texas. It serves residential, commercial, and transportation customers.